Unfortunately, this Irish bank also looks like it needs to make some more redundancies
Death by a thousand cuts
Irish banks have announced redundancies and yet they still remain unprofitable. This is the case at Bank of Ireland. Unfortunately, it's also the case at National Irish Bank.
National Irish Bank announced 100 job cuts in July.
It's not clear whether these have happened yet, but when NIB revealed its results for the first six months of the year last week it disclosed an operating loss of €10m. This was compounded by further write downs of € 391m, leading to a total loss of € 401m.
Unsurprisingly, NIB isn't advertising any jobs. Unfortunately, more cuts seem entirely possible.
